How to apply for building insurance?

Posted on: Jul 23, 2024 | 3 mins | Written by: HDFC ERGO Team

How to apply for building insurance?

Building Insurance Application Checklist

If you have a property of your own, you must consider getting a building insurance policy, as this coverage helps keep your property secure. Read in to know how you can get the perfect insurance plan for your residential or commercial building.

Applying for building insurance

Follow the steps mentioned below to apply for and receive your building insurance plan successfully:

1. Make a list of your requirements

First and foremost, you need to make a list of your requirements. You should be aware of what you need, the term you need it for and the specific covers you are looking for.

2. Check your budget

You need to be aware of your budget when you look to purchase a home insurance policy. This will help you to find an appropriate policy and make an effective application.

3. Compare the features of the plans

All the leading general insurance companies of India like HDFC Ergo offer building insurance plans. There are different policies for different purposes like residential building insurance policies and commercial property insurance policies. Go over the features of the plans and see which one suits you the best and then apply accordingly. Some policies have specific covers such as the electronic equipment insurance cover. Check to see whether your chosen plan has the covers you need.

4. Read the policy wording carefully

Different plans offer different scopes of coverage. If you have any specific requirement, say, a tv insurance cover included in the plan, you need to read the policy wording carefully to understand the exact scope of coverage.

5. Duly fill out the application form

After you have zeroed in on the policy of your choice, you need to fill out the application form and gather the required documents. Make sure there are no errors, voluntary or involuntary, in your application form and documentation as that can lead to a rejection of the application.

6. Pay the premium

After submitting the form, pay the premium online through a safe and reliable channel. This will help save you time and effort as you don't have to visit the insurer’s office to make the payment. As soon as that is done, the policy will be issued in your name.

Conclusion

As you can see, getting a property insurance plan is not difficult. You can apply for good coverage online, fill out the application form, pay the premium and get the policy instantly, so go for it without any further delay!

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

How to Apply for a Property Card in Mumbai?

Home Insurance in India: Cost and Factors that Influence The Premium

Key Factors Influencing Home Insurance Premiums

What Does Home Insurance Cover in the Event of a Fire?